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LAWRENCEVILLE, Ga. — The average price of a used vehicle for model years 2011-2015 depreciated 2.4% during August, noticeably more than July’s 1.5% decline, according to Black Book. The decline is also notably more than what was recorded the last three years during the month of August — even higher than August 2014’s 1.9% depreciation ... Read More »
Read More →TYSONS, Va. — The National Automobile Dealers Association (NADA) has hired Abram Olmstead as its digital media director. Olmstead will oversee the NADA’s communications efforts across all digital platforms, as well as lead the development of the association’s strategy for using online platforms to communicate with and market to both internal and external audiences. “In ... Read More »
Read More →ATLANTA — The seasonally adjusted annual rate (SAAR) for new vehicles fell below 17 million for the second time this year in August, according to Manheim. The firm, however, said the drop should not be cause for concern, noting that it “may be a good think.” A lower SAAR, the company stated, points to manufacturers ... Read More »
Read More →NAPLES, Fla. — TimeHighway.com has merged with Peak Performance, Dealer Product Services and OneCommand, the company announced today. Together, the companies will be called Affinitiv. The combined company will offer a combination of predictive analytics, integrated technology, and in-field experts to help OEMs and dealer clients retain customers, build loyalty and drive sales, according to ... Read More »
Read More →MCLEAN, Va. — Cars.com is going public, the firm’s parent company, TEGNA Inc., announced on Wednesday. According to its announcement, the digital automotive marketplace will be spun off, creating two independent publicly traded companies. TEGNA, which was called Gannett until it spun off its newspaper business last year, is the largest broadcast station group among ... Read More »
Read More →LAS VEGAS — Sam Pack’s Five Star Ford of Lewisville (Texas) was named F&I and Showroom’s 2016 F&I Dealer of the Year. Sponsored by The Warranty Group for the sixth consecutive year, the award was handed out last Wednesday, Aug. 31, during the magazine’s annual conference in Las Vegas. Accepting the award on behalf of the ... Read More »
Read More →Lake Forest, Calif. – Portfolio, one of the nation’s leading reinsurance program managers for automotive dealers, has launched Portfolio Edge, a program to extend coverage on the manufacturer’s parts and labor warranties for repairs in dealership service drives, and then reinsure the extended coverage contracts to the dealer’s Affiliated Reinsurance Company. Portfolio Edge comes with ... Read More »
Read More →Austin, Texas – IAS, a leading provider of F&I solutions to the automotive industry, today announced that Patrick Brown has joined the company as president and CEO effective September 12, 2016. Mr. Brown succeeds longtime IAS executive Bob Corbin who has been with the company since 2000. Mr. Corbin will continue to play a key ... Read More »
Read More →LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that the 2016 event, held last week at Paris Las Vegas, set a new record for attendance and earned high praise in early reviews. “Our pride in organizing and holding a successful show is matched only by our pride in its year-over-year growth,” said David ... Read More »
Read More →MCLEAN, Va., – E-Credit Express (ECE) — a fully patented, automated, online lender management platform (LMP) that connects dealers to over 1,300 lenders instantly — has recently entered into an agreement with NADA Used Car Guide — the leading provider of used vehicle values — to speed up the used vehicle sale and loan approval ... Read More »
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